nothing
None. Nada. Zip. My parents were old school and you simply did not talk about that stuff.
You also didn't talk about sex, pregnancy, childbirth, politics, how much or how little you made or what things cost. My parents both insisted on having a clean house, a perfect yard and all those fine lovely things but we were automatically supposed to know how to do it.
And it's odd to me that my mother was a fantastic school teacher but she never taught me the things I know now I should have been taught. LOL
Kinda sucks to have to learn most of that stuff as an adult and I made some ridiculously bad mistakes that I do think could have been avoided had I had any kind of guidance or prior discussions at all.
Another person who's parents were from a generation that didn't talk money with your kids.
When I was young not many people had credit cards. Your mom may have had a sears or a JCpenny store card but that was pretty much it.
Also though when I was young "spending" and "shopping" were not used for entertainment the way it is now. People get bored today and the first thing they think of to do is to "go to the mall". We did not do that.
One trait my mother did show me by example was how to shop for "quality". I learned that a 9.00 kohls tee shirt is not a bargain because it falls apart after 2 washings so it does pay to pay 20 bucks for the better quality shirt that will look fabulous, wash well and hold up for 2 years.
Now also imo stuff its just made cheaply. when I was a kid you purhased a washing machine with the full expectation that it would last 18 years. Now, I've had salesman tell me flat out, that will never happen again.
Anyone remember tough skin jeans by sears? the came with a guarantee that if your kid wore them out (not outgrew them) sears would replace them. they were that well made. Now I see the stuff they sell.... uggh. thin material, cotton shirts that you can see through. $100 jeans that are paper thin.
manufacturers make stuff to fall apart.
Ahhhh...but the amount of free stuff I've earned through applying for and using credit cards....literally thousands of dollars a year.
That said, I'm way too frugal to dream of carrying a balance.
BTW, great idea for a thread. I'm always surprised & disappointed by the lack of solid financial advice & guidance on the DIS Budget Board. I call it the Spending Board.
Colleen27 said:But there's a reason companies so happily give things away to apply for or use their cards... because the people who can reap the benefit without carrying balances and paying interest are a small minority compared to those who will open the card "for the perks" and end up paying far more in interest and fees than they receive in rewards.
So true! Not a game I recommend playing unless u are the type not to carry a balance. dH and I could never bring ourselves anywhere close to doing that for wants in our lives, so we are pretty safe. As it is, DH isn't comfortable unless he has a big safety net in our chequing account. Even though its financially smarter to put it in some low risk investment, it's not worth it for his peace of mind.
And a lot of what ppl said about cheap vs frugal is very true. I am the kind who is frugal....with a tendency to cheapness. It drives me nuts when my $20 shirt wears out faster than my $5 shirt (which still looks like new). Plus the darn $20 shirt has to be expensively dry cleaned instead of tossed in the washer. sometimes I think its better to buy 3 $5 shirts that last 2 yrs each than 1 $20 shirt that lasts 5 yrs, kwim? Then again, I happily dished out $60 each for jansport backpacks for my kids that should last at least 5 yrs. nearly a whole season now and still looks good as new....I love them!
But there's a reason companies so happily give things away to apply for or use their cards... because the people who can reap the benefit without carrying balances and paying interest are a small minority compared to those who will open the card "for the perks" and end up paying far more in interest and fees than they receive in rewards.
So true! Not a game I recommend playing unless u are the type not to carry a balance. dH and I could never bring ourselves anywhere close to doing that for wants in our lives, so we are pretty safe. As it is, DH isn't comfortable unless he has a big safety net in our chequing account. Even though its financially smarter to put it in some low risk investment, it's not worth it for his peace of mind.
And a lot of what ppl said about cheap vs frugal is very true. I am the kind who is frugal....with a tendency to cheapness. It drives me nuts when my $20 shirt wears out faster than my $5 shirt (which still looks like new). Plus the darn $20 shirt has to be expensively dry cleaned instead of tossed in the washer. sometimes I think its better to buy 3 $5 shirts that last 2 yrs each than 1 $20 shirt that lasts 5 yrs, kwim? Then again, I happily dished out $60 each for jansport backpacks for my kids that should last at least 5 yrs. nearly a whole season now and still looks good as new....I love them!
Same here. You just didn't talk finances and certainly not with your children!